Crow Point Partners LLC Continues to Hold Stake in PNM Resources, Inc. (Holding Co.) (NYSE:PNM)

Crow Point Partners LLC maintained its stake in PNM Resources, Inc. (Holding Co.) (NYSE:PNM) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 775,000 shares of the utilities provider’s stock at the end of the second quarter. PNM Resources, Inc. (Holding Co.) accounts for 4.9% of Crow Point Partners LLC’s portfolio, making the stock its 3rd largest position. Crow Point Partners LLC owned 0.97% of PNM Resources, Inc. (Holding Co.) worth $29,838,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of PNM. IFP Advisors Inc raised its stake in shares of PNM Resources, Inc. (Holding Co.) by 211.8% in the first quarter. IFP Advisors Inc now owns 2,987 shares of the utilities provider’s stock worth $111,000 after buying an additional 2,029 shares in the last quarter. Meadow Creek Investment Management LLC raised its stake in shares of PNM Resources, Inc. (Holding Co.) by 3.9% in the first quarter. Meadow Creek Investment Management LLC now owns 3,542 shares of the utilities provider’s stock worth $131,000 after buying an additional 132 shares in the last quarter. Glen Harbor Capital Management LLC raised its stake in shares of PNM Resources, Inc. (Holding Co.) by 3.9% in the first quarter. Glen Harbor Capital Management LLC now owns 4,508 shares of the utilities provider’s stock worth $167,000 after buying an additional 168 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of PNM Resources, Inc. (Holding Co.) by 45.1% in the first quarter. Envestnet Asset Management Inc. now owns 4,825 shares of the utilities provider’s stock worth $178,000 after buying an additional 1,499 shares in the last quarter. Finally, Elkfork Partners LLC raised its stake in shares of PNM Resources, Inc. (Holding Co.) by 3.9% in the first quarter. Elkfork Partners LLC now owns 5,474 shares of the utilities provider’s stock worth $203,000 after buying an additional 204 shares in the last quarter. Institutional investors and hedge funds own 93.82% of the company’s stock.

Shares of PNM Resources, Inc. (PNM) opened at 41.20 on Friday. The company has a 50-day moving average price of $39.10 and a 200-day moving average price of $37.47. PNM Resources, Inc. has a 1-year low of $30.95 and a 1-year high of $42.20. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 23.68 and a beta of 0.32.

PNM Resources, Inc. (Holding Co.) (NYSE:PNM) last announced its earnings results on Friday, July 28th. The utilities provider reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.04. PNM Resources, Inc. (Holding Co.) had a net margin of 10.05% and a return on equity of 8.57%. The business had revenue of $362.32 million during the quarter. During the same quarter in the previous year, the company posted $0.40 EPS. On average, equities analysts expect that PNM Resources, Inc. will post $1.85 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, August 7th will be issued a dividend of $0.2425 per share. This represents a $0.97 annualized dividend and a yield of 2.35%. The ex-dividend date is Thursday, August 3rd. PNM Resources, Inc. (Holding Co.)’s payout ratio is 55.43%.

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A number of equities research analysts have weighed in on PNM shares. Jefferies Group LLC reaffirmed a “hold” rating and issued a $38.00 price objective on shares of PNM Resources, Inc. (Holding Co.) in a report on Friday, July 21st. BidaskClub raised PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “strong-buy” rating in a report on Thursday. Zacks Investment Research raised PNM Resources, Inc. (Holding Co.) from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Royal Bank Of Canada set a $39.00 price target on PNM Resources, Inc. (Holding Co.) and gave the stock a “buy” rating in a research note on Saturday, June 3rd. Finally, Mizuho initiated coverage on PNM Resources, Inc. (Holding Co.) in a research note on Wednesday, April 19th. They set an “underperform” rating and a $32.25 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. PNM Resources, Inc. (Holding Co.) currently has a consensus rating of “Hold” and an average price target of $36.85.

In other news, Director Norman P. Becker purchased 2,500 shares of the company’s stock in a transaction on Monday, June 5th. The shares were purchased at an average cost of $38.98 per share, with a total value of $97,450.00. Following the completion of the transaction, the director now owns 5,732 shares of the company’s stock, valued at approximately $223,433.36. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Patrick V. Apodaca sold 5,333 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $40.43, for a total transaction of $215,613.19. Following the sale, the senior vice president now directly owns 65,009 shares in the company, valued at $2,628,313.87. The disclosure for this sale can be found here. Corporate insiders own 1.26% of the company’s stock.

About PNM Resources, Inc. (Holding Co.)

PNM Resources, Inc (PNMR) is an investor-owned holding company with approximately two regulated utilities providing electricity and electric services in New Mexico and Texas. PNMR’s electric utilities are Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP). It operates in three segments: PNM, TNMP, and Corporate and Other.

Institutional Ownership by Quarter for PNM Resources, Inc. (Holding Co.) (NYSE:PNM)

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